May 29, 2009 / 8:16 AM / 11 years ago

Takeda says won't bid for Solvay pharma unit

TOKYO, May 29 (Reuters) - Takeda Pharmaceutical Co (4502.T), Japan’s largest drugmaker, said it would not bid for the pharmaceutical unit of Belgian chemicals, plastics and drugs company Solvay SA (SOLB.BR).

Solvay is set to receive a range of proposals for its pharmaceutical unit by Friday’s deadline for indicative bids and Takeda was thought to be among the likely bidders, people familiar with the matter had told Reuters. [ID:nLS983329]

A Takeda spokesman said the company was not considering a bid for the unit.

Analysts have said the business, whose research focuses heavily on cardiometabolic and neurological treatments, could fetch 5 billion euros ($7 billion) or more. (Reporting by Yumiko Nishitani and Nathan Layne)

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